Section 10-21-4. – Scope — Exclusions.
§ 10-21-4. Scope — Exclusions. (a) Except as otherwise provided in subsection (b) or (c) of this section, this chapter applies to a receivership for an interest in any one or more of the following: (1) Real property and any personal property related to or used in operating the real property; or (2) Personal property […]
Section 10-21-16. – Use or transfer of receivership property not in the ordinary course of business.
§ 10-21-16. Use or transfer of receivership property not in the ordinary course of business. (a) In this section, “good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing. (b) With court approval, a receiver may use receivership property other than in the ordinary course of business. (c) With […]
Section 10-21-5. – Power of court.
§ 10-21-5. Power of court. The court that appoints a receiver under this chapter has exclusive jurisdiction to direct the receiver and determine any controversy related to the receivership or receivership property. History of Section.P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § 1, effective June 20, 2022.
Section 10-21-16.1. – Use or transfer of receivership property in a temporary non-liquidating receivership.
§ 10-21-16.1. Use or transfer of receivership property in a temporary non-liquidating receivership. The owner may use or transfer receivership property, by sale, lease, license, exchange or other disposition, only: (1) With court approval; and (2) After the court approves the operating plan, in accordance with the plan. History of Section.P.L. 2022, ch. 107, § […]
Section 10-21-6. – Appointment of receiver.
§ 10-21-6. Appointment of receiver. (a) The court may appoint a receiver: (1) Before judgment, to protect a party that demonstrates an apparent right, title, or interest in property that is the subject of the action, if the property or its revenue-producing potential: (i) Is being subjected to or is in danger of waste, loss, […]
Section 10-21-6.1. – Appointment of temporary non-liquidating receiver.
§ 10-21-6.1. Appointment of temporary non-liquidating receiver. The court may appoint a temporary non-liquidating receiver on the request of the owner if: (1) As of the date of an emergency declaration, the owner was not insolvent; (2) As of the date of an emergency declaration, the owner was generally paying its debts as those debts […]
Section 10-21-7. – Disqualification from appointment as receiver — Disclosure of interest.
§ 10-21-7. Disqualification from appointment as receiver — Disclosure of interest. (a) The court may not appoint a person as receiver unless the person submits to the court a statement under penalty of perjury that the person is not disqualified. (b) Except as otherwise provided in subsection (c) of this section, a person is disqualified […]
Section 10-21-8. – Receiver’s bond — Alternative security.
§ 10-21-8. Receiver’s bond — Alternative security. (a) Except as otherwise provided in subsection (b) of this section, a receiver shall post with the court a bond that: (1) Is conditioned on the faithful discharge of the receiver’s duties; (2) Has one or more sureties approved by the court; (3) Is in an amount the […]
Section 10-21-9. – Status of receiver as lien creditor.
§ 10-21-9. Status of receiver as lien creditor. On appointment of a receiver, in addition to the receiver’s other status under this chapter, the receiver has the status of a lien creditor under: (1) Chapter 9 of title 6A as to receivership property that is personal property or fixtures; and (2) Section 34-13-2 as to […]
Section 10-21-10. – Security interest covering after-acquired property.
§ 10-21-10. Security interest covering after-acquired property. Except as otherwise provided by law of this state other than this chapter, property that a receiver or owner acquires after appointment of the receiver is subject to a security agreement entered into before the appointment to the same extent as if the court had not appointed the […]